Background
China Sunsine Chemical Holdings Limited is the top manufacturer globally and in China of rubber accelerators and other specialty chemicals used in rubber production, mainly to improve car tire functionality.
It has a 20% global market share and supplies 2/3 of the world’s top 75 tire makers from its five plants located in China.
Business Description
The company has a global market share of 20% and 33% in China in rubber accelerators, which accounts for nearly 3/4 of sales, insoluble sulfur 1/4, and the rest antioxidants, chemicals needed for strengthening and improving the function of rubber used mainly in car tires.
CSSC supplies 2/3 of the top 75 global tire makers. Total capacity expansion is planned for 2018, up to 172,000 tonnes from 152,000 tonnes annually; in 2017 accelerator production accounted for 83,000 tonnes, antioxidant chemicals 33,000 tonnes and insoluble sulfur 22,000 tonnes.
China has dominated the niche rubber chemical market for some years, and the country accounts for 76% of global output. While demand has remained healthy, tougher environmental regulations in China are steadily phasing out smaller producers in favor of the leading manufacturers, such as CSSC, which are more efficient. This has led to firmer pricing trends.
The group plans to ramp up accelerator capacity by a third to 117,000 tonnes by 2020.
Leadership
Xu Chung Qui is the Chairman of CSSC and has served in this position since 1998. He joined the Group in 1977 and has received numerous awards throughout his career such as the “Outstanding Entrepreneur” award, from the Heze City Economic and Trade Committee and the “Excellent Leader in Technological Innovation” by China Rubber Industry Association. He received his Bachelor’s degree in Rubber Chemical Engineering from Shandong Chemical College, China and later became a qualified senior engineer.
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